Which of the following is an example of the police power of government?
a. escheat
b. eminent domain
c. taxation
d. building codes
Answer: d. building codes
Business
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On January 1, Year 1, Big Seats Furniture, Inc., issued $200,000 worth of 8% bonds at $200,000. Interest will be paid annually on December 31. Show the effect of the first interest payment on the accounting equation. What is asset?
A. (16,000) Cash B. (8,000) Interest Payable C. 0 No Effect D. 16,000 Interest Income E. 16,000 Cash F. (16,000) Interest Expense G. 216,000 Bonds Payable H. 200,000 Bonds Income
Business
Discuss the various contracts that must be in writing to be enforceable
What will be an ideal response?
Business